New Hampshire snuffs out trailblazing bitcoin municipal bond effort
COINDESK ·
New Hampshire canceled the state effort toward setting up a first-of-its-kind governmental bitcoin bond. The state's executive council rejected the idea in a 3-2 vote. At the last moment, New Hampshire has turned its back on a groundbreaking effort to establish what was expected to be the first rated, bitcoin-backed bond issued under a state's authority, with a governmental body there canceling the project. Just a few months after Moody's Ratings gave the bond a Ba2 rating , the New Hampshire Executive Council, which reviews major state financial actions, slammed the door with a 3-2 decision that sided with those concerned about the state's financial reputation. The financial instrument was to be issued by the Business Finance Authority of the State of New Hampshire , backing a private-sector bond of up to $100 million tied to Bitcoin mining and datacenter firm CleanSpark. The council's vote was the final step. "It was an extremely short-sighted decision," Keith Ammon, a longtime crypto advocate and the majority floor leader in the New Hampshire House of Representatives, posted on social media site X. "They should gather all relevant facts and information and reconsider their vote at a future meeting." Ammon told CoinDesk that it's an election year for council members, and it only takes one to swing the vote, adding, "We're not giving up." New Hampshire has led among states establishing crypto policies, becoming the first to establish a crypto reserve last year — well ahead of the yet-unfinished federal effort. 1 Grayscale's CFO exits after 7 years with crypto asset manager 1 hour ago 2 With SEC fight over, Coinbase's top legal exec Grewal moves on, and others reassigned 1 hour ago 3 Arbitrum jumps 19% benefitting from Robinhood's $568 million onchain trading frenzy 1 hour ago 4 Newest version of crypto Clarity Act may drop as soon as next week, sources say 2 hours ago 5 Billions flowing out of bitcoin ETFs and private credit funds suggest rising market risks 4 hours ago 6 AI contracts, not bitcoin, now drive miner valuations, and Cipher and TeraWulf look cheap, says analyst 6 hours ago 7 Ethereum's newest nonprofit wants to become Wall Street's guide to crypto 7 hours ago 8 Aave rolls out vaults for yield-hungry fintech investors 9 hours ago 9 Age verification is the surveillance nobody voted for 9 hours ago 10 Over $7.2 billion have migrated from LayerZero to Chainlink CCIP as Mantle joins exodus 10 hours ago Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
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